After recently reporting a $5 billion loss,
is up on people's belief that it has a better future ahead, Jim Cramer told listeners on his
"RealMoney" radio show Wednesday.
reported "a magnificent quarter," he said.
"GM is remarkable," Cramer said. "It turns out its costs were so high that it has been able to wipe out a third of the work force and still manufacture just as many cars."
Although GM shouldn't have let board member Jerry York go, Cramer said he still believes in the company.
Those who took some GM shares off the table, should consider buying them back because this stock is not done going up, he said.
In addition, Ford is still a buy because "they are just beginning to cut the fat there," Cramer said.
Moving on to the retail sector, the shopping experience at
is not very good, he said. And
is also joining this "clueless retail club."
Home Depot has added aisle numbers, whereas before, the employees used to walk customers to the aisle, Cramer said. Plus, it's starting to sell coffee.
"This is not what I expect or want," he said.
The management at these companies should go outside of the organization and hire real merchants, "people who know and see what's working," Cramer said.
Cramer said he feels that
offer a more upscale shopping experience than do Wal-Mart and Home Depot, where Cramer said he feels lost.
It's "fun to spend" at Target and Costco, he said.
To see the most recent edition of The RealMoney Radio Recap in its entirety, please click here. This recap is published every day around 3 p.m. ET.
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